On December 15, 2023 PTC officially launched the latest version of ServiceMax Core with version 23R3. This release is a major step to support the vision of service lifecycle management that enables manufacturing organizations to:
- Maximize asset uptime and customer value
- Increase service efficiency and margins
- Enhance service-driven and asset-focused revenues
With the advanced asset-centric and service optimizations capabilities available in ServiceMax, integrated with capabilities across the PTC portfolio, leading organizations can not only establish the foundation for their service businesses but also accelerate their offerings to become resource optimized, remote-first, and data-driven.
This release strengthens PTC’s position as the partner of choice when it comes to addressing targeted service challenges and uses cases while also offering and end-to-end comprehensive service solution for those organizations looking at a complete service transformation.
A cohesive portfolio for service lifecycle management
ServiceMax has been a leading innovator in the area of field service management enabling organizations to mobilize their technicians and optimize the performance of other service stakeholders to effectively deliver on service commitments. With its continued investment in installed base management, complex entitlement management and other work execution engines, the ServiceMax Core field service product continues to deliver robust capabilities for those organizations working with complex and mission critical assets.
As a result, organizations such as Alcon, Schneider Electric, ThermoFisher Scientific and hundreds more have seen significant improvements in their service operational and financial metrics.
As part of the service lifecycle management portfolio at PTC, this release represents a significant milestone in both capabilities and impact. It unites Best-in-Class functionality from across the PTC product family that is targeted to and extremely relevant for service use cases. It also provides our customers with an integrated customer experience to be able to execute on their end-to-end service transformation needs.
Connected service strategies
The first in a long roadmap of integrations, ServiceMax is delighted to bring Connected Service Plans and Remote-First Service capabilities to our customers in a joint effort with ThingWorx.
The world we live in is increasingly hybrid, and service is no exception. Customers expect faster, more efficient service, and a combined traditional and remote approach leveraging new technologies to service delivery is key to maintaining operating margins and delivering a great customer experience.
To help our customers drive service execution excellence and deliver a better customer experience, Core 23R3 includes key capabilities that connect service execution to IoT.
- Connected Service Plans: Leverage live equipment data to inform proactive maintenance strategies
- Remote-First Service: Powerful remote investigation capabilities that allow remote service engineers to efficiently investigate a service issue while capturing & reviewing pertinent asset data such as service history, asset attributes, IoT data and more.
Many of our customers are already invested in some form of remote service, and with this release, customers can enhance and improve their remote service operations. With ThingWorx and ServiceMax combined, customers can leverage IoT data in both remote service and proactive maintenance strategies.
This is just one example of the strength of PTC’s product portfolio when applied to Service use cases, and we’ve only just started.
ServiceMax & Servigistics: A powerful duo for service optimization
Service parts management and parts optimization are primary focus areas for service organizations as the right part at the right location is often critical to support asset and customer uptime. Parts are also a major cost and revenue driver for service organizations including those in the PTC customer base. With Core 23R3, these organizations can take some substantial steps to manage their service parts inventory with the combined power of ServiceMax field service management and Servigistics parts planning.
Field Stock Optimization, the first capability enabled in ServiceMax Core23R3, enables organizations to tap into the powerful forecasting and parts planning capabilities of Servigistics to optimize and recommend target stock levels visible in ServiceMax for technician vans and other forward stocking locations. This would reduce and eliminate excess inventory in the field while repositioning that inventory to areas that need it most. Overall, it creates improved service execution, higher asset uptime, and lower inventory-related costs. Servigistics customers, such as Metso, have seen significant inventory reductions with the aid of these and other critical parts planning features.
ServiceMax AI (closed private beta)
IDC predicts that by 2025, 75% of field service organizations will be using AI to improve their operations. Field service organizations are already seeing the benefits of AI: helping improve the customer experience, increase productivity by automating manual tasks, and add a layer of intelligence to knowledge management and data insights.
We’re proud to announce that a select number of customers now have the ability to harness AI in field service with ServiceMax CoPilot (closed private beta). ServiceMax CoPilot is an AI-powered, natural language assistant with specific skills such as scheduling service events or researching asset service history.
While this is currently only available to a limited set of customers, watch this space as we further develop and refine targeted AI use cases for field service management.
Learn more about Core 23R3
For PTC and the Service Lifecycle Management team at ServiceMax, this truly is a significant product release and a major step in delivering the future-proof service capabilities that organizations need to effectively scale their service businesses while driving their digital transformations.
For more information, visit the ServiceMax website.
Learn More About ServiceMax Core 23R3 Release
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